Comparative & Int'l Perspectives

Proposed New EU Insolvency Directive


The European Commission has just released its proposal for another Insolvency Directive, finally tackling the very sticky issue of substantive harmonization.


Slow start for personal bankruptcy in Russia


After focusing on the substance of personal bankruptcy laws around the world for years, I'm now convinced that I should instead have been focusing on institutions and procedure. Reports of the first year of the Russian personal bankruptcy process convince me further. In a paper anticipating the new law, I predicted potential process hangups, but I badly underestimated the degree to which procedural complications would waste time and resources and undermine the system's new effectiveness.


New Emirates Personal Bankruptcy Law to Exclude Consumers


The government of the United Arab Emirates has announced that it is working on a personal insolvency law (to accompany an imminently forthcoming business restructuring law). That's the good news.


Nortel Survives (First?) Appeal -- Canadian Edition


Unlike the bankruptcy judges in Nortel, who synchronized their trials in a landmark case of cross-border insolvency cooperation, the appellate judges run at their own speed, so results will trickle in here and there.


Wholesale Reform of Indian Insolvency Law


IndianpiggybankOn Wednesday of this week, the Indian Ministry of Finance released a


New personal insolvency laws cover (almost) all of Europe


This summer saw a flurry of legislative activity in Europe with respect to personal bankruptcy.